Forex Technical Analysis & Forecast 02.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating at the top of the ascending structure. We think, today the price may fall towards 1.1780 and then grow to reach 1.1881 to complete this ascending wave. After that, the instrument may continue falling with the target at 1.1500.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating at the top of the ascending structure as well. Possibly, the price may fall towards 1.3153 and then grow to reach 1.3255. Later, in our opinion, the market may move downwards with the target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still being corrected. Possibly, the price may reach 0.9620 and then start another ascending movement with the target at 0.9767.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming the fifth descending structure. We think, today the price may rebound from 110.80 and then continue falling. The closest target is at 109.75. Possibly, this structure may be extended up to 109.50 and complete the descending wave. Later, in our opinion, the market may grow towards 112.10.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is trading to the downside. Possibly, the price may reach 0.7926. after breaking this level, the market is expected to fall towards 0.7827. However, following the market tendency, the instrument may try to grow to reach 0.8050.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has formed another consolidation range and right now is trading close to its upside border. Possibly, today the price may fall towards 59.30. After breaking this level downwards, the instrument may continue falling with the target at 58.05.
XAU USD, “Gold vs US Dollar”
Gold has returned to 1265.36. After rebounding from this level, the price is expected to grow towards 1283.30 and complete this ascending wave. Later, in our opinion, the market may fall to reach 1244.00.
BRENT
Brent is falling towards 50.48. After that, the instrument may grow to reach 54.72 and then start another correction with the target at 50.50. Later, in our opinion, the market may start another ascending structure towards 56.25.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.